Over 90% of NY capital project financing comes through public authorities selling bonds. Bonds/debt aren’t inherently bad. Like all tools, it depends on how they’re used. Without bonds large scale public projects are literally impossible.
-
Agree Kay, but the imo the trust actually expands resident control over the agency both in the legislation and by virtue of the fact that it gives more state (not federal) control over the agency. And residents have to vote to put their bdg in the trust, so it’s not automatic
There are reasons to be wary of leveraging the bdgs and the debt. but from an organizing perspective and tenant-power perspective the path to more resident control over the bdgs is thru the trustpic.twitter.com/4r9RRDXebf
